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PTA spot market trends improve

27
Jul '10
The PTA spot market improved on July 26, as being driven by continued rebound pattern in stock and futures markets. Buyers bid at around 7100-7150 Yuan / ton, transactions were reached within 7000-7050 Yuan / ton. Sellers were reluctant sellers to sell high-quality supply at low price.

Offers for overseas PTA spot were around US $860-865 / tons, some buyers made counteroffers at $855/ ton; transactions were done around $855-857 / ton. One single deal was reportedly closed at $856 / ton.

As sellers were waiting for news on anti-dumping initiative, offers for South Korean spot were light, a few offers were around $840 / ton and talks were around $835 / ton.

On the contract side, settlement prices from leading manufactures were around 7250 Yuan/ ton. Settlement prices of PX, PTA and MEG from Sinopec stood at 7150 Yuan, 7250 Yuan, 5950 Yuan / ton, respectively.

Fibre2fashion News Desk - India


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